Why CrowdStrike Stock Fell Again Today
Shares of CrowdStrike (NASDAQ: CRWD) slipped again on Tuesday. After falling roughly 4% on Monday, the cybersecurity specialist fell another 3.8% today. Meanwhile, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average indexes ended today's session down 1.4%, 2%, and 1%, respectively.
Growth stocks rallied last week after Federal Reserve Chairman Jerome Powell indicated that future interest rate hikes from the central bank would step down from the 75-basis-point increases delivered with its last four consecutive meetings. But CrowdStrike didn't participate in the rally due to sell-offs driven by its third-quarter earnings report, and renewed concerns about lasting macroeconomic pressures have kicked off new bearish momentum this week.
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Source Fool.com
